MediaPost.com recently reported that 2009 wasn’t such a good year for the beauty industry. Although there is some evidence of recuperation, it still doesn’t take away from the fact that the industry undertook the losses along with almost every other major sector. The study was conducted by the NPD Group, a foremost source of consumer and retail market research information for a extensive range of industries.
They discovered that some of the emergent categories include, smaller-size women’s fragrances, innovations in foundation and concealer, and anti-aging products.
Adding to the great industry news, WSJ reported on Thursday, January 28, 2010, that Estee Lauder exceeded expectations and posted a 2Q profit in sales and gained 11% to $2.26 billion.
“Our strong top-line growth indicates consumers have responded positively,” CEO Fabrizio Freda says in a statement. “While certain businesses have shown signs of improvement, and the economic challenges and some external uncertainties have abated, we remain mindful that they have not completely disappeared. We continue to examine our business to more closely align our cost structure with expected sales growth and plan to make targeted incremental investments … to grow our brands.”
